Signature Bank Stock Forecast

Big movements in Signature Bank stock price on Monday moving 26.81% between high and low
(Updated on Apr 29, 2024)

SBNY Signals & Forecast

The Signature Bank stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.40. On a fall, the stock will find some support from the long-term average at approximately $2.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -7.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Signature Bank stock

Signature Bank finds support from accumulated volume at $3.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.740 between high and low, or 26.81%. For the last week the stock has had daily average volatility of 16.02%.

Our recommended stop-loss: $3.11 (-6.06%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (SBNY) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Signature Bank to open at $3.19, and during the day (based on 14 day Average True Range), to move between $2.73 and $3.89, which gives a possible trading interval of +/-$0.581 (+/-17.56%) up or down from last closing price. If Signature Bank takes out the full calculated possible swing range there will be an estimated 35.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.30 (0.30%) than the resistance at $3.40 (2.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Signature Bank stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Signature Bank stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.902 Buy Candidate Upgraded

Predicted Opening Price for Signature Bank of Tuesday, April 30, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.